Professor of Risk Management ¦ Head Competence Center Risk and Compliance Management
Has your risk management become boring over time? Here are some ideas to make executives (and risk managers) more enthusiastic about it. Lucerne University of Applied Sciences and Arts Institut für Finanzdienstleistungen Zug IFZ #ifzriskmanagement
Pavel Dobeš
5mo
dear proffesor, tyvm for this refreshing and also bit traditional slides. We discussed with colleague (mathematician), and have just small note to the equation used on slide 4: may be there should be [1-(1-p)^n]? otherwice model estimation is fine for us :o)
Hans Læssøe
5mo
Next steps are: - recognize there is no such thing as not taking risks - leverage risk methods (quantification etc.) and teach the organization to take risks intelligently
Thx for sharing😃
Marco Nutini
5mo
Stefan Hunziker, PhD, CICP, Tks for sharing, nice summary! Risk management is boring when is not connected to business management.
As Cyber? ...No, but the only thing that is slowly becoming boring or annoying is the continuing ignorance of the decision-makers and those responsible for risk management and corporate risks, in short the management and supervisory boards... But we'll stay tuned...
Janybek Abakirov
5mo
Elevating your risk management narrative is crucial. As a risk advisor and partner, not merely an observer, building relationships throughout the organization becomes paramount. For a risk manager, the challenge lies in transforming findings into actionable insights—an art as much as a science. Convincing key stakeholders requires finesse. Often, collaboration intensifies when internal auditors or regulators enter the picture, or following significant events like a cyber-attack, financial crisis, or a pandemic. The challenge for a risk manager is to stay ahead of the game.
Stefan Hunziker, PhD, CICP - what are some resources to assist with data collection and also building things like a tornado chart? I ask because my risk org is young and early in their development and I want to wean my executives and board off heat maps and risk registers ASAP
The dead horses of risk management: 1. 3 Lines of Defense 2. Risk registers 3. Heatmaps 4. CRSAs 5. RAG ratings Don't be conformed to your past way of thinking!! The Future is here! https://www.linkedin.com/pulse/future-here-horst-simon-risk-culture-builder
Some great points within your article. Workshops focusing on actions ⭐ I really want to see how we can use the tornado diagram to show estimated cost to mitigate risk to target, with estimated return costs if we choose to invest. I work for the NHS and would like to develop a way to do this with our operational risks.. thankyou for this insight.
Professor of Risk Management ¦ Head Competence Center Risk and Compliance Management
5moThank you Alexander Hilsbos for the term "Year-3-Blues" that you coined!